Shenzhen Easttop Supply Chain Stock Forecast
High volatility in Shenzhen Easttop Supply Chain stock price on Friday which ended trading at ¥16.70
(Updated on Jun 28, 2024)
The Shenzhen Easttop Supply Chain stock price fell by -0.595% on the last day (Friday, 28th Jun 2024) from ¥16.80 to ¥16.70. During the last trading day the stock fluctuated 13.80% from a day low at ¥16.60 to a day high of ¥18.89. The price has been going up and down for this period, and there has been a -7.07% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 10 million shares were bought and sold for approximately ¥168.44 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -22.15% during the next 3 months and, with a 90% probability hold a price between ¥10.90 and ¥15.53 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002889.SZ Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Shenzhen Easttop Supply Chain stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ¥18.13 and ¥19.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Friday, June 21, 2024, and so far it has fallen -18.30%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Shenzhen Easttop Supply Chain stock
Shenzhen Easttop Supply Chain finds support from accumulated volume at ¥16.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved ¥2.29 between high and low, or 13.80%. For the last week, the stock has had daily average volatility of 13.68%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002889.SZ) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Shenzhen Easttop Supply Chain to open at ¥17.40, and during the day (based on 14 day Average True Range), to move between ¥14.43 and ¥18.97, which gives a possible trading interval of +/-¥2.27 (+/-13.58%) up or down from last closing price. If Shenzhen Easttop Supply Chain takes out the full calculated possible swing range there will be an estimated 27.16% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at ¥16.68 (0.12%) than the resistance at ¥16.80 (0.60%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Shenzhen Easttop Supply Chain stock A Buy?
Shenzhen Easttop Supply Chain holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.750 Sell Candidate Unchanged
Predicted Opening Price for Shenzhen Easttop Supply Chain of Monday, July 1, 2024
Fair opening price July 1, 2024 | Current price |
---|---|
¥17.40 ( 4.17%) | ¥16.70 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002889.SZ
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 19.69 | 17.88% |
R2 | 18.81 | 12.65% |
R1 | 18.27 | 9.41% |
Price | 16.70 | |
S1 | 16.52 | -1.07% |
S2 | 15.98 | -4.30% |
S3 | 15.11 | -9.54% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 20.44 | 22.40% |
R2 | 17.97 | 7.60% |
R1 | 16.80 | 0.599% |
Price | 16.70 | |
S1 | 16.68 | -0.120% |
S2 | 16.54 | -0.96% |
S3 | 16.41 | -1.74% |
002889 Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 29, 2024 | May 29, 2024 | May 29, 2024 | ¥0.0850 | 0.514% |
2 | Jun 07, 2023 | Jun 07, 2023 | Jun 07, 2023 | ¥0.115 | 0.87% |
3 | Jun 17, 2022 | Jun 17, 2022 | Jun 17, 2022 | ¥0.171 | 1.45% |
4 | Jun 10, 2021 | Jun 10, 2021 | Jun 10, 2021 | ¥0.143 | 1.05% |
5 | Jun 15, 2020 | Jun 15, 2020 | Jun 15, 2020 | ¥0.219 | 1.85% |
FAQ
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